DOCSLIB.ORG

29) Swiss National Bank

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
29) Swiss National Bank J) SOME OTHER EUROPEAN NATIONAL CENTRAL BANKS 29) Swiss National Bank 30) Bank of Norway 31) Central Bank of Iceland 32) National Bank of Serbia 33) Central Bank of Montenegro 29) SWISS NATIONAL BANK Staff number: 630 rThe Swiss National Bank (SNB) was founded by virtue of the Federal Act on the Swiss National Bank, which entered into force on 16 January 1906 and started its business operations on 20 June 1907. rThe primary objective of the SNB is to ensure the price stability in the medium term and a balanced development of economic activity. The National Bank equates price stability with a rise in the national consumer price index of less than 2% per annum. rThe SNB is a joint-stock company. Its registered chares are listed on the stock exchange. The share capital amounts to CHF 25.000.000, approximately 55% of which is held by public shareholders (cantons, cantonal banks, etc). The remaining shares are in the hands of private persons. The Confederation does not hold any shares. rThe Bank is administered by: a) the General Meeting of Shareholders which is held once a year to approve the balance sheet and the distribution of profit and loss and has no extensive powers b) the Bank Council consisting of 11 members. Six members, including the president and the vice-president, are appointed by the Federal Council, and five by the Shareholders’ Meeting. The Bank Council oversees and controls the conduct of business by the SNB. Its quarterly meetings provide the Governing Board with the opportunity of elaborating and justifying its policy c) The Bank Committee, consisting of 10 members of the Bank Council, is responsible for the close supervision and control of the SNB management d) the Local Committees discuss the regional economic situation with the Bank’s management and give advice on credit issues. They consist of three representatives of the local business community and are assigned to head office and the Bank’ branches e) the top and executive body of the SNB is the Governing Board. It decides on monetary policy and other significant issues. It collaborates with the Federal Government mainly in the field of monetary and foreign exchange policies. It consists of three members who are at the same time the heads of the three departments. The Federal Council upon recommendation of the Bank Council appoints them for a six-year term. rThe SNB has its legal and administrative seat in Berne. The seat of the Governing Board is in Zurich. Departments 1 and 3 are located in Zurich while the number 2 in Berne. The Bank has 6 branches and 18 agencies. The agencies are operated by cantonal banks. rThe SNB has the note-issuing privilege and is entrusted with the task of coin distribution. The company “Orell Füssli Sicherheitsdruck AG” prints the Swiss banknotes. The majority of its share capital belongs to the central bank while the remaining shares are spread among many individual investors. This company has 463 employees and belongs to the Orell Füssli Holding AG. “Swissmint” in Berne, which belongs to Swiss Confederation, produces the Swiss coins. rThe SNB contributes to the financial stability but the banking supervision is entrusted with the Federal Banking Commission, an independent institution simply integrated within the Federal Department of Finance. It supervises banks, investment funds, mortgage bond business, stock exchanges and security dealers and disclosure of shareholding and public takeover bids. rThe SNB provides cash handling services in three locations: in the seats of Berne and Zurich and the branch of Geneva. At the end of 2006 the cash office in Lugano had been closed and a representative office of the Bank opened but in another building. The old building has been sold. ACTIVITIES OF THE SWISS NATIONAL BANK Core activities 1) Co-operation with the federal government in formulating the monetary and foreign exchange policies. Implementation of monetary and foreign exchange policies. The National Bank equates price stability with a rise in the national consumer price index of less than 2% per annum. It sets an operational target range for its chosen reference interest rate, the three-month Libor rate. The Bank influences this Libor rate mainly through short-term repo transactions. 2) Management of foreign exchange reserves and the reserves in local currency of the Bank. 3) Payment systems: the SNB oversees the systemically important payment and securities settlement systems and promotes the efficiency of the payment systems. Together with the banks and the Swiss Post, is a major institutional operator. • SIC: On behalf of the SNB the company Swiss Interbank Clearing AG, subsidiary of the Telekurs group owned by banks, operates the Swiss Interbank Clearing System (SIC) which is a RTGS system dealing with monetary policy operations, interbank transactions, cheques, automatic debits and transactions of ATMs. The transactions are settled via sight deposit accounts held with the SNB. SIC is owned by Financial Market Services (75%), which in its turn is owned by banks and PostFinance (25%). • SECOM: SIC has a direct link to SECOM, the securities clearing system of SIS SegaInterSettle. This link makes it possible for securities and repo transactions to be carried out with simultaneous delivery and payment. • euroSIC clearing system: to give them access to TARGET the Swiss banks and Swiss Post run a special clearing bank in Frankfurt, the Swiss Euro Clearing Bank (SECB). The SECB operates the euroSIC clearing system, which is structured in a similar way to SIC. Most Swiss banks, in addition to Swiss Post, execute their euro payments through SECB. 4) Ensuring the stability of the financial system. For this purpose, the National Bank analyses account sources of risk emanating from the financial system and oversees the payment and securities settlement systems (see above). 5) Banknote issuing privilege. It has the majority of share capital of the printing works company «Orell Füssli Sicherheitsdruck AG» which prints banknotes, identity cards, travel documents and securities. 6) Bank of banks: lender of last resort, opening accounts to credit institutions, settlement agent. Other activities 1) The SNB advises the federal authorities on monetary policy issues and acts as bank to the Confederation (opening accounts, sight or short term deposits, payments, management of Government securities, investment of funds and safe custody, advice to the Confederation in taking out money market loans from banks). 2) Counting and sorting of banknotes and coins in Berne, Zurich, and Geneva and other cashier’ activities. 3) Statistics and economic researches. 4) Study Center Gerzensee: in 1980, the Swiss National Bank acquired the manor house "Neues Schloss", which was built around 1700 on the south side of the Belpberg at Gerzensee. In 1984, this property was transferred to the newly created STUDIENZENTRUM GERZENSEE (Study Center Gerzensee). The purpose of this foundation of the Swiss National Bank is: 1) to run a centre for the training of specialists from central banks, banks and industry from both Switzerland and foreign countries 2) to provide facilities for academic conferences and to offer postgraduate programmes in economics 3) to offer a venue for central banks and other institutions and persons bearing responsibility for government and economic policy and 4) to preserve the historically valuable property as an integral part of the landscape of Gerzensee. ORGANISATION CHART OF THE SWISS NATIONAL BANK GENERAL MEETING OF SHAREHOHOLDERS ● Audit Board BANK COUNCIL ● Internal Auditors ● President ● Vice-President ● 9 members GOVERNING BOARD ● Secretariat General ● the heads of the three Departments ◘ Chairman ◘ Vice-Chairman ◘ one member DEPARTMENT 1, ZURICH 1) Human Resources 2) Communications 3) Regional Economic Relations 4) International Affairs ● International Research and Technical Assistance ● International Monetary Relations 5) Economic Affairs ● Research ● Economic Analysis ● Statistics ● Library 6) Legal and Administrative Affairs ● Legal Services ● Pension Fund ● Premises, Technical Services DEPARTMENT 2, BERNE 1) Finance ● Central Accounting ● Controlling 2) Cash ● Administration and Cashier Offices ● Technical Support and Storage 3) Financial Systems ● Financial Stability ● Oversight 4) Security ● Analysis and Prevention ● Security Services DEPARTMENT 3, ZURICH 1) Financial Markets ● Money Market and Foreign Exchange ● Asset Management ● Risk Management ● Financial Markets Analysis 2) Banking Operations ● Payments ● Back Office ● Support 3) Information Technology ● Banking Applications ● Banking Operations ● Infrastructure THE NETWORK OF THE SWISS NATIONAL BANK r Branches Geneva (also cash center) r Representative Offices 1) Basel 2) Lausanne 3) Lucerne 4) Saint Gallen 5) Lugano r Agencies 18 cashier agencies are operated by cantonal banks. 30) THE BANK OF NORWAY (Norges Bank) Staff number: 540 ● Two years after the separation from Denmark and the union with Sweden, the Bank of Norway was established by the Act of 14 June 1816 voted by the the Norwegian parliament (Storting). The Bank of Norway (BN) is a separate legal entity owned by the state. In January 2004, its adjusted capital was 41.923.579 norvegian crowns (NOK). The main objective of the BN is to contribute to balanced economic growth and necessary price stability. The government of the country defines an inflation target for monetary policy and the central bank uses the sight deposit rate as a key instrument to achieve this goal. In general, the BN implements monetary and foreign exchange policy, oversees the payment systems and ensures the financial stability but the banking supervision is entrusted in the Financial Supervisory Authority which is controlled by the government of Norway. ● In 2003, the B.N. privatised its IT center and as of 1st August 2001 its branches network. Previously, it has closed 5 branches and converted another one branch to telephon centre. The remaining 9 branches formed a company called NOKAS (Norsk Kontantservice AS), which is owned by the central bank by 33,5% and the remaining 66,5% by 6 banks and banking groups. About 300 employees of the central bank were outsourced to the NOKAS.
Load more

Recommended publications
  • 17. Mai-Medaljer: Du Kan Nå Sikre Deg: En Gammel, Norsk Tradisjon
    FOR SAMLERGLADE OM SAMLERGLEDE | Nr 01 - 2018 GOLD EAGLE 2018 MYNT & HISTORIE SAMLERHUSETS MAGASIN SKAFF DEG ÅRETS UTGIVELSE AV EN AV VERDENS MEST POPULÆRE GULLMYNTER! HVOR BLIR DET AV DE NORSKE MINNEMYNTENE? Mynt i fortid, nåtid og fremtid VERDENS FØRSTE MYNT I FAIRMINED GULL! Den amerikanske ‘Gold Eagle’ er kanskje verdens mest anerkjente gullmynt! Nå er 2018-utgaven av ‘Gold Eagle’ tilgjengelig – denne mynten prydes alltid med frihetsgudinnen på en side og ørnemotivet som har gitt myntens navn på den andre. 17. mai-medaljer: Du kan nå sikre deg: En gammel, norsk tradisjon Sendte seddel-hilsen til konkurrentene: UTGAVE 1 -2018 UTGAVE JOHAUG Løssalg Kr. 79,- Bestill raskest på: www.samlerhuset.no/gold-eagle 0 25 50 Bestillingsnummer: 47021307 FIKK OL-GULL MAGN_Gold_Eagle_Helsides Anon_MAG1_2018.indd 1 06.03.2018 12:39:50 83876_1_2018_MH_Cover.indd 1 21.03.18 12.10 Norges jubileumsfemkroner Forhåndssalg av årets myntutgivelser komplettBELAGT sett MED 24 KARAT GULL fra Det Norske Myntverket! OG FARGEMOTIV Nå har du muligheten til å forhåndsbestille og bli en av de første som sikrer deg årets myntutgivelser fra Det Norske Myntverket. Det Norske Myntverket på Kongsberg produserer alle norske sirkulasjonsmynter, jubileumsmynter og minnemynter på oppdrag fra Norges Bank. Norges Bank har allerede utgitt en 20-kroner sirkulasjonsmynt med spesialpreg som markerer 150-årsjubileet for Den Norske Turistforeningen. Denne 20-kronen vil være med i myntsettene. Det Norske Myntverkets offisielle årsmedalje er også inkludert. Det moderne årssett 2018
    [Show full text]
  • Ekte Romersk Originalmynt ALLE VIL HA Kun KRIGSSEILER- 99Kr! MEDALJEN Fraktfritt Tilsendt
    ROMERRIKETS HISTORIE Det konstantinske dynastiets vekst og fall FOR SAMLERGLADE OM SAMLERGLEDE | Nr 01 - 2015 Nesten 1700 år gammel mynt - kun 99 kr! Ekte romersk originalmynt ALLE VIL HA Kun KRIGSSEILER- 99kr! MEDALJEN Fraktfritt tilsendt KEISER: Konstantius II JON MOTIV: Romersk soldat som dreper sin fi ende MICHELET UTGIVELSESÅR: ca. 348 – 356 e.Kr. OM KRIGSSEILERNE METALL: Bronse DIAMETER: ca. 15 – 25 mm ROMERSKE KVALITET: Pent eksemplar Bestill i dag på www.mynt.no MYNTER NORGES For kun 99 kroner kan du sikre deg: FØRSTE • En nesten 1700 år gammel originalmynt fra Romerriket SAMLERHUSET MYNT FINANSIERER DE NYE • Historiehefte med utfyllende historie om det konstantinske Olav Tryggvason penningen familiedynastiet og romersk økonomi, ekthetsgaranti og KONGEPORTRETTENE oppbevaringsmappe helt kostnadsfritt • Innleder den korte samlingen “Det konstantinske dynastiets LANSERT ETTER vekst og fall”, med totalt 6 mynter fra Romerriket Kr. 79,- • 30 dager full returrett, ingen bindingstid og ingen 200 ÅR minstekjøpsforpliktelse WATERLOO- RETURUKE 6 RETURUKE ENDELIG! Få innblikk i den spennende historien til det RETURUKE 18 konstantinske dynastiet gjennom ekte originale OL-MYNTENE ER HER MEDALJEN VÆR RASK! www.mynt.no romerske mynter og god historisk dokumentasjon. AN_ANMY_220x290.indd 1 16.03.15 08:39 PRODUSENT DISTRIBUTØR NYHET! Nå hedres den heltemodige innsatsen på gigantmedalje: Kampen om tungtvannet og den uunnværlige professoren Leif Tronstad For kun 149 kroner kan du Sikre deg ditt eksemplar – bestill i dag! sikre deg: VIKTIG INFORMASJON • Minnemedalje som hedrer kampen for tungtvannet og Samlerhuset gir bort et tonn krigssølv! professor Leif Tronstad • Gigantformat – hele 61 mm stor og over 100 gram tung • Patinert og behandlet for hånd, meget høyt relieff og utsøkt Foto: Norges Hjemmefrontmuseum detaljrikdom 61 MM • Spar hele 350 kroner i forhold til GRATIS! Leif Tronstad - en uunnværlig ressurs for Norge i kampen vår ordinærpris (499,- inkl.
    [Show full text]
  • Norges Bank Working Paper 2012/16
    2012 | 16 Working Paper Norges Bank’s bicentenary project Norges Bank 1999-2010 Governance and structural reforms Harald Bøhn Working papers fra Norges Bank, fra 1992/1 til 2009/2 kan bestilles over e-post: [email protected] Fra 1999 og senere er publikasjonene tilgjengelige på www.norges-bank.no Working papers inneholder forskningsarbeider og utredninger som vanligvis ikke har fått sin endelige form. Hensikten er blant annet at forfatteren kan motta kommentarer fra kolleger og andre interesserte. Synspunkter og konklusjoner i arbeidene står for forfatternes regning. Working papers from Norges Bank, from 1992/1 to 2009/2 can be ordered by e-mail: [email protected] Working papers from 1999 onwards are available on www.norges-bank.no Norges Bank’s working papers present research projects and reports (not usually in their final form) and are intended inter alia to enable the author to benefit from the comments of colleagues and other interested parties. Views and conclusions expressed in working papers are the responsibility of the authors alone. ISSN 1502-8143 (online) ISBN 978-82-7553-704-9 (online) 2 NORGES BANK 1999 – 2010 GOVERNANCE AND STRUCTURAL REFORMS Abstract In 1999 Norges Bank employed 1150 persons and had 12 regional branches located in various cities across the country. In 2010, the regional branches had all been closed and the traditional central bank staff had been reduced to a good 300 persons. In the same period, an investment management unit was developed into what is now called Norges Bank Investment Management (NBIM) with about 280 persons from 25 countries.
    [Show full text]
  • The Global Coin Collection Company
    REACHING CREATING DELIGHTED COLLECTORS WORLDWIDE The Global Coin Collection Company The Samlerhuset Group is Europe’s leading seller of coins and spread means we can find interesting ideas and use our varied medals. First established in Norway in 1994, it has expanded into cross-border experiences to offer the most interesting and 14 different markets within Europe. exciting coin and medal concepts. The Samlerhuset Group works closely with government mints As organizers and majority owners of the World Money Fair on their collector coin programmes. We are also joint-owner of in Berlin, one of Europe’s most important trade shows, we are the Mint of Norway, the body that strikes legal tender coinage investing in the continued strength of our partnerships, and in for Norway and other countries, and the company entrusted the market as a whole. each year with the privilege of striking the gold Nobel Peace Prize medal. Over the next few years, we will continue to create a best practice coin marketing organization, which, together with our people and The Samlerhuset Group has maintained its strong market our business partners, is one that will hold a position of considerable position during the current economic turmoil. Our international strength in the markets where it operates. We look forward to working with you. SIGNATUR)REIDAR)NILSEN) ) ) ) 2 Reidar Nielsen and Ole Bjørn Fausa 3 Owners | The Samlerhuset Group We create delighted collectors Our philosophy The Samlerhuset Group’s business is to sell coin subscriptions through direct marketing. In short, it is defined by the statement: “We create delighted collectors.” Our vision We also have an ambitious, long-term business vision for the Group, which can be summed up as follows: “We want to be the global coin collection company.” To make this happen, we will have to enter new markets carefully, taking a step-by-step approach.
    [Show full text]
  • Changes in Norges Bank's Role and Activities in Cash Supply and Distribution
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Eklund, Trond; Nygård, Svein; Veggum, Leif Research Report Changes in Norges Bank's Role and Activities in Cash Supply and Distribution Staff Memo, No. 9/2017 Provided in Cooperation with: Norges Bank, Oslo Suggested Citation: Eklund, Trond; Nygård, Svein; Veggum, Leif (2017) : Changes in Norges Bank's Role and Activities in Cash Supply and Distribution, Staff Memo, No. 9/2017, ISBN 978-82-8379-003-0, Norges Bank, Oslo, http://hdl.handle.net/11250/2506372 This Version is available at: http://hdl.handle.net/10419/210343 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. http://creativecommons.org/licenses/by-nc-nd/4.0/deed.no www.econstor.eu STAFF MEMO Changes in Norges Bank’s role and NO.
    [Show full text]
  • Du Kan Også Laste Ned Magasinet Som Pdf, Klikk
    ÅRETS LANSERING! FOR SAMLERGLADE OM SAMLERGLEDE | Nr 01 - 2020 SAMLERHUSETS MAGASIN MYNT & HISTORIE SAMLERHUSETS MAGASIN Kun 250 i opplag FRIGJØRINGEN 75 ÅR 1 KILO RENT SØLV NORGE Et varig minne som hedrer våre helter Det er på høy tid at de norske krigsflyverne hedres, og hva er vel ikke en større heder enn en varig minnemynt i massivt sølv belagt med rent gull? ATTER FRITT Denne nye massive minnemynt er preget i 1 kilo rent sølv og belagt med 99,9 % rent gull og sort gull. Mynten er en offisiell utgivelse, og er godkjent av både Buckingham Palace og det britiske luftforsvaret Royal Air Force. Opplaget er på lave 250 nummererte eksemplarer. UTGAVE 1 - 2020 UTGAVE BESTILL I DAG: Løssalg Kr. 79,- www.samlerhuset.no/RAFKILO 0 25 50 Bestillingsnummer: 470220XX RAF_Helsides Anon_1KG_2019.indd 1 08/11/2019 09:15:56 102257_2019_MH_Cover 6.indd 1 07.01.2020 11:15 ANNONSE | NMOS KRIGSSØLV SS Gairsoppa. Foto: Colin Higgs Krigssølvet fra havets bunn Londonserien med overtrykk ble krigsminnemedaljer I desember 1940 satte SS Gairsoppa kursen fra India mot Europa. Skipet var lastet med 109 tonn sølv som skulle finansiere de alliertes motstandskamp. En hyllest til Norges motstandskamp 31. januar 1941 forlot SS Gairsoppa Freetown i andre det norske selskapet Swire Seabed fra Seks frimerker, med motiv fra kampen mot okkupantene, Sierra Leone i konvoi med 27 andre skip, blant Bergen. Et dykk til 4700 meters dybde er ikke ble offisielt utgitt 1. januar 1943 av den norske dem den norske båten Borgestad under kaptein gjort i en håndvending. Etter ett år var alt Lars Grotnæss.
    [Show full text]